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AlliedBarton

NEW YORK—Blackstone, a private equity firm based here, recently announced the $1.67 billion sale of security guard company AlliedBarton to Wendel, a Paris-based private equity group. AlliedBarton is now looking at acquisitions, Robert Perry, president and CEO of Robert H. Perry and associates, told Security Systems News.

The report said the deal should be valued at about “$1.5 billion, including debt.”

Blackstone has hired investment bank Credit Suisse Group AG to explore the sale, the report said.

The report quoted an AlliedBarton spokeswoman saying that it’s “the right time for a new private equity sponsor.”

That timing seems right or even a little overdue as PE generally holds a company for three to five years.

According the report, Blackstone has owned AlliedBarton for six years. Blackstone acquired AlliedBarton from Ronald Perelman’s MacAndrews & Forbes Holdings in 2008 for up to $750 million, Rueters said.

Rueters said AlliedBarton has EBITDA of $150 million.

AlliedBarton, based in Conshohocken, Pa., has more than 55,000 employees and 120 offices.

LOWELL, Mass.—Viewpoint Monitoring, a video monitoring company with commercial accounts across North America, has seen positive early results with its “blended solution,” which involves a partnership with AlliedBarton, a security guard company traditionally viewed as a business rival.